Why Choose us?
So, you are looking to start a business in Dubai, but don’t know where to start.
Don’t worry. In this article, we are going to share the right way for a new business setup in Dubai.
But, first of all, why choose Dubai to start a business?
The following points can help you understand.
1.The Judicial System
With the help of the Department of Economic Development (DED), the Dubai government presents a business-friendly ecosystem for both local and foreign businesses. This made a huge market for foreign investments and this is also a big reason for Dubai’s viable economy. The Dubai government offers business opportunities with some genius business policies and investments.
2.Stable Economy & Continous Growth
The reliable and uninterrupted economy of Dubai provides notable opportunities for entrepreneurs to start a business in Dubai. It can be a multinational company or an SME, the influential economy of this city is suitable for all. Besides, this city has another level of security and stability that empowers industrialists and business persons for a new business setup in Dubai.
3.Commercial Law & Legal Aspects
As a foreigner, you might find the UAE commercial law and the legalities excessive. But there are certain ways to keep overall control of your business. There are also some amazing features and benefits that draws the attention of foreigners to make a company formation in Dubai. The hassle-free online portal speed up the process with nominal paperwork.
4.Diverse Human Resource & Manpower
To build a big business you need good manpower, and Dubai is a great place where professionals are attracted to work. Tax-free salaries and a better living standard draw attention fo all kinds of human resources to work in Dubai.
5.Monetary Support & Affordable Business Setup
The welfare programs and monetary schemes provided by the Dubai government are highly helpful for startup and business setup in Dubai.
6.Open Trade Hub
Dubai grants an open trade hub for new company formation in Dubai. This helps businesses to collaborate with investors and other countries. It also let them establish stable trade relations and other supplementary offers.
Before starting your business you have to understand the various perks of different regions. There are three regions of business in Dubai. Dubai mainland business, Dubai free zone business and Dubai offshore companies.
Dubai is a place that is well known for its highly developed infrastructures. It has fast and some of the most overloaded roadways, airways, and seaways which can be amazingly helpful for businessmen.
Situated in the mainland of the Middle East and also easily accessible to various continents including Europe, Africa, and Asia, Dubai provides a strategic location for the businesses.
10.Stable Politics & Radical Bureaucracy
Dubai’s calm and reliable political system energizes entrepreneurs and business owners to invest in Dubai. Dubai also takes strong actions to abolish red-tape and bureaucracy. It makes doing business easy in Dubai and attracts more outsides to make investments in Dubai.
How to start a business in Dubai?
By the end of 2017, Dubai eyeballed a high extension of company formation in Dubai. According to the reports of Emirates NDB, “New business setups have strengthened the economy and helped non-oil sectors to expand more.
The businesses in Dubai has been continued to grow in 2018 and still growing. International benefits and idealistic perspectives are huge bonuses for entrepreneurs to start a company in Dubai. With affordable costing, it’s easier to start a business in Dubai.
Dubai also has enormous tax and VAT but due to low corporate tax, Dubai can provide low-cost business setup.
The Dubai government collaborated with the Department of Economic Development (DED) to create decisive business opportunities and a tempting environment for businesses to start and scale-up. Many people get stuck just because of some simple fundamentals of starting a new business in Dubai.
Now let’s look at the primary requirements you need to start a business in Dubai.
Here’s the list
- Reserve a Company Name/Trade Name for business setup in Dubai.
- You have to register the company at eh Department of Economic Development to set up your business in Dubai.
- Notarize the company’s Memorandum of Association at Department for Economic Development
- To start a new business in Dubai or UAE, you have to submit and sanction your company document to the Department for Economic Development.
- Attain Trade License fitting your business activity and jurisdiction.
- Get the membership of the Dubai Chamber of Commerce and Industry (DCCI)
- Apply at the Ministry of Labor for the establishment card.
- Register employees with the Ministry of Labor
- Register employees with the General Authority for Pension and Social Security.
- Rent or Lease and Office
- Get connected with business consultants firms in Dubai to get a professional and knowledgeable overview of your business.
Starting a business in Dubai Mainland:
Starting a business in the Dubai mainland can be your best choice. But before you continue, you have to know what it takes to start a new business in Dubai Mainland.
All across UAE and also Dubai, there is a lot of paperwork to be done to start a new business. You have to pair up with UAE National to start a company in the mainland.
Let’s take a look at the requirements to start a business in Dubai Mainland:
- Decide your business activity
- Get your business name approved
- Choose a business partner
- Acquire initial partner
- Draft eh Memorandum of Association
- Rent an Office
- Get the tenancy contract attested & Ejari
- Submit the acquired documents to DED
- Get your business trade license
Starting a business in Dubai Free-zone:
If you are thinking to start your business in the Dubai free-zone, it can be expeditious. Starting a new company in Dubai free-zones can be cost-effective. The Dubai government always encouraged foreigners to invest and create businesses in Dubai. Dubai free-zones can be one fo the best choices for entrepreneurs to set up a new business.
Take a look at the requirements to start a business in Dubai Free-zones:
- Choose the right free-zone that suits your business activity
- The free-zone authority is a single-window authority
- Free-zone authorities have their own set of guidelines
- Understand the difference between an FZE and FZCO
- You will generally only require your passport and visa to start the initial process of free zone company formation (can be different in various free-zones)
Trade Licenses required to start a business in Dubai:
There are various certificates you need to start a business in Dubai or the UAE.
- A commercial trade license covers various kinds of trading & business activities
- A professional license covers professional service and related businesses.
- An industrial license is used for business in manufacturing units and industrial works.
You have to take permissions from Ministry of Economy and Commerce, Ministry of Finance and Industry, Ministry for Health, Registration from the Chambers of Commerce and Industry are also involved. You should look at your business activity and then decide further.